Financial contributions or in-kind support can be directed to the Central Office or you may elect to make a contribution directly to your local LGF affiliate. Either way, you can be assured your generosity will be greatly appreciated and allow us to continue to improve and expand our programs. We have a few options to make secure online donations including PayPal, First Giving, AmazonSmile, GiveMN and Square. Please choose which best works for you.
Tax Reform & Charitable Giving – 2018
With the introduction of tax reform this year, you may be looking at your finances and wondering how you will be impacted. For many taxpayers, the new tax law creates an opportunity in the form of increased disposable income. Here are a few of the changes that may affect you.
Income Tax Brackets
Whether you’re a single filer or a married person who files jointly, separately or as head of household, your tax bracket will be new in 2018. The new law maintains seven tax brackets, but lowers rates for most brackets: 10, 12, 22, 24, 32, 35 and 37 percent. Most taxpayers will see their tax rate decrease. A married couple with a combined income of $150,000, for example, will go from a 25 percent tax rate to 22 percent under the new law.
The new law nearly doubles the standard deduction to $12,000 for single filers, $18,000 for heads of household and $24,000 for joint filers.
The new tax law repeals the personal exemption.
If you elect to itemize this year, your deductions may look a little different (though charitable deductions remain under the new law). If you purchase a new home, there is now a cap on the mortgage interest deduction for the first $750,000 of debt on your primary residence. Under the new plan, if you itemize your deductions, you will be able to deduct up to $10,000 for income, sales and property taxes.
Charitable Contributions for Cash Gifts
The new law increases the 50 percent of your adjusted gross income limitation for donations by cash, check or credit card to 60 percent.
What Didn’t Change…
- Charitable Deductions
You will still be able to deduct your charitable contributions when you itemize your taxes.
- Long-Term Capital Gains and Dividends
The tax rates on capital gains and dividends remain the same at 0, 15 and 20 percent, depending on your tax bracket.
- Charitable Contributions of Appreciated Property
The limitation on charitable gifts of long-term appreciated property to public charities will remain at 30 percent of your adjusted gross income. You can still carry over any excess for up to five additional years.
Talk With Your Tax Professional
There are many ways you can give this year that not only make a difference for Let’s Go Fishing, but offer you benefits as well. Please consult with your tax or financial advisors to determine the best charitable giving strategies for you.
A Great Time to Be Charitable
With the lower tax brackets, you may find yourself in a better financial position to help causes that matter most to you. There are many ways you can make a difference to Let’s Go Fishing while enjoying financial benefits for yourself.
Individual & Major Gifts
Through our individual and major donor support, Let’s Go Fishing continues to expand their mission of serving seniors, veterans, disabled and youth throughout many communities in Minnesota and Wisconsin.
Friends Society Membership
Please join the Let’s go Fishing Friend Society! Your tax-deductible gift will bring the fishing experience to people who have otherwise little hope of ever again outing a line in the water or enjoying a cruise one of the beautiful lakes. Your membership supports the Let’s go Fishing organization to grow its mission in Minnesota, Wisconsin and nation-wide.
Click here for more information…
Planned giving is a way to make a gift to your charity of choice through thoughtful estate planning. A planned gift as part of an overall estate plan takes your needs as well as the needs of your loved ones into consideration, while helping support a cause or a charity that is personally meaningful to you. For more information on how you can make Let’s Go Fishing part of your planned giving… click here for more information
Donating Your Boat
Donate Your Boat, Auto, Art, Camper, and Grain as gifts to LGF. Used boat and trailer donations to LGF help our organization bring our unique programs to communities throughout the nation. It is quick and easy to donate your boat or vehicle, and your donation may be eligible for a tax deduction. Please contact us for more information on how you can donate any of these items. Click here for our Donate Your Boat Brochure.